Renewal of temporary residence permit Slovakia

The application for the renewal of your residence permit has to be submitted to the foreign police in Slovakia before the residence permit expires. You will have to submit the application personally, you can hire a lawyer to represent you in the whole process but still your personal presence when submitting the application is required. 

As you are both directors of the Slovak LLC (s.r.o.), you have to prove a net profit (after taxes) for the past year in the amount of at least sixty times the subsistence minimum – which is currently at least the amount of around 12.400 EUR. If you are both representatives at the same company, this amount remains the same for both of you. 

The main reason when you applied for a residence permit for the purpose of doing business was running real business activities. If you had no income, that means that you did not run the business in Slovakia, which means for the foreign police and according the law that the residence permit renewal may be declined. 

Also the residential address has to be real. The foreign police officer can go (and mostly they do) personally check the accommodation before they decide about your application. Accommodation can be proved either by letter of ownership as well as by the rental agreement. 

The foreign police officers when dealing with your application will also investigate whether you were living in Slovakia for at least half of the year. If not, they can again decide to reject your application.

In accordance with § 34 paragraph 7 of the Act on the Residence of Foreigners: “A third-country national is required to demonstrate, in the application for the renewal of a temporary residence permit under § 22 paragraph 1 letter b), a net profit of the business company or cooperative, on behalf of which they act, for the previous tax period of at least sixty times the subsistence minimum. If it concerns a third-country national whose business plan has been assessed by the Ministry of Economy of the Slovak Republic as an innovative project, the required net profit is at least twenty times the subsistence minimum; if they did not conduct business for the entire previous tax period, they must demonstrate a net profit of five times the subsistence minimum for each month of residence in the previous tax period. If a third-country national acts on behalf of several business companies or cooperatives, the net profit requirement from the previous sentence must be met by at least one of the companies or cooperatives on behalf of which they act. If the third-country national was not authorized to act on behalf of a company or cooperative in the previous tax period, they are required to demonstrate financial security for the business activity amounting to thirty times the subsistence minimum by submitting a bank statement according to § 32 paragraph 7.”

As of July 1, 2024, in the Slovak Republic, the subsistence minimum is 273.99 EUR. The net profit after tax of the company must be at least 16,439.40 EUR.